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Feb 16, 2013 10:00am PST
, the debt ceiling. it all boils down to government spending. the problem in washington is that neither side is listening to each other but lucky for you i am listening to everyone. >> now is our best chance for bipartisan, comprehensive tax reform. >> americans do not -- do not support sacrificing real spending cuts for more tax hikes. >> now, conservatives, i get where your frustration is coming from. with the state of the economy right now, it feels like your tax money is being tossed into a black hole and you get nothing in return. that's what it really comes down to -- a return on your investment, your tax. well, it's true. over the last 50 years or so, our government has gone from being one that invests in the future to one that feeds consumption. has gone from being one that invests in the future to consumption. entitlement rose to two-thirds of government spending over that time and our debt is out of control. raising rates on the rich alone won't cut it in terms of revenue if we're going to bring down the debt. everyone has to pay more. my solution is we use some of that additional
Feb 16, 2013 1:30pm EST
? >> that is right. >> would it be reasonable, confronting a fiscal cliff in january, potential debt ceiling default in march, sequestration, or ceiling default in february, sequestration in march, government shut down in april, another potential debt ceiling in may, could shake the confidence of some investors in our ability to deal with our responsibilities? >> yes. we think the crisis mode of fiscal policy over the last few years is reducing people's confidence. how big of an effect that is, we don't know. >> the gentleman's time has expired. >> i think by anyone's objective measure in this town or country, we would consider you a smart man and a good economist, right? >> thank you. >> it befuddles me, it strikes me that some of us want to spee chify other than uses precious time to engage you in questioning. -- use this precious time to engage you in questioning. i will try to continue on in that regard. speaking of speechifying, we heard it is impossible to get ourselves out of this debt situation by spending cuts alone. i want to understand if i am correct that the cbo projects that revenue w
Search Results 0 to 2 of about 3 (some duplicates have been removed)